Examining the Interplay Between Entrepreneurial Intentions and Macroeconomic Factors: A Conceptual Study

Abstract

This study conceptualizes academic perspectives on macroeconomics and necessity-driven entrepreneurial intentions. Focusing on the impact of development level, unemployment rate, and corruption on potential entrepreneurs' intentions, this study is the first to delve deeply into the existing literature on macroeconomic influences, entrepreneurial intentions, and the theory of planned behavior to develop a robust conceptual framework. Our findings highlight the intricate relationship between macroeconomic factors and entrepreneurial intentions, with development level emerging as a particularly complex influence. The study underscores the pivotal role of the unemployment rate in shaping entrepreneurial intentions, suggesting that higher unemployment may spur entrepreneurial activity as individuals seek alternative income sources. By shedding light on these dynamics, this study provides a foundation for future empirical research to validate and expand upon our conceptual conclusions. We have also identified several areas where understanding is limited, presenting rich opportunities for future research to explore these relationships further. Moreover, this paper offers novel but valuable insights for policymakers, helping them to understand the macroeconomic conditions that can foster entrepreneurship. By leveraging these insights, policymakers can devise strategies to stimulate the influx of new entrepreneurs, thereby addressing the challenges of unemployment and poverty. This comprehensive examination enhances academic discourse and provides practical guidance for fostering a more vibrant entrepreneurial ecosystem.